Market Conditions in Methuen>Question Details

Jfo, Home Buyer in Methuen, MA

Rental market in Essex County, Massachusetts (Methuen, Haverhill, Lawrence, Lowell)?

Asked by Jfo, Methuen, MA Thu Nov 19, 2009

I currently own rental real estate in Boston and Revere. I am looking to invest in the Merrimack Valley (Methuen, Haverhill, Lawrence, Lowell). How is the rental market in these communitities or how can i find this data?

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5
Christina Wright’s answer
It really depends on who your target is (groups, young professionals, urban dwellers) and what the property has to offer. Transit oriented rentals are your best bet right now. People want to be close to the commuter rail. Parking has also become very important for renters. I've seen that they are willing to pay $100+ extra a month for guarenteed on site parking. MLS has some of the rented data (for those that post on the MLS). Otherwise Craigslist is another good option to track what has been going on and what is moving. Contact me if you'd like me to send you the MLS data. Unfortunately I can't give you a straight answer because it depends on what rental market you're targeting. Let me know how it goes - good luck!
2 votes Thank Flag Link Thu Nov 19, 2009
Hello Jfo- I'm in the mortgage biz, and also am a RE investor and landlord myself. In Mass and NH, etc. Feel free to contact me if you'd like to chat.
I used to live in Methuen, and know that whole area and Lawrence very well. Generally, these are pretty good rental markets/ plenty of tenants available.
Of course each town has their different areas, etc. You know how that goes.
I believe that Trulia may have some of the rental data you are seeking.
Thanks and good luck.
-Ken L.
1 vote Thank Flag Link Sun Nov 22, 2009
Hi there! The rentals in my area have been moving pretty quickly....I cover the cities you are interested in. Is there any specific data you are looking for?
Web Reference: http://www.sellyourden.com
1 vote Thank Flag Link Fri Nov 20, 2009
Jfo

Give this site a look for rent info and comparables..
http://www.zilpy.com/US/Massachusetts/Essex_County/Methuen/Z…

Searching by zip code seems to work easiest/fastest

Good luck, Dunes
PS..This site might also come in handy..http://www.rentometer.com/
1 vote Thank Flag Link Thu Nov 19, 2009
I am a local native and I know all of these towns really well. One good thing about being a land lord in this area is there are a good availability of multi-family homes. Two and three flats are plentiful. Also, all of these cities are in close proximity to the commuter rails. There are stops in downtown Haverhill, downtown Lowell, and Lawrence which is a plus.

Like any city or town, all of these cities have areas that are more desirable areas than others. If you are considering resale value (location, location, location) you may want to stay closer to the more desirable areas. If you have any questions about the area feel free to contact me.

Chris Lefebvre
eXp Realty
teamlefebvre.net
0 votes Thank Flag Link Sun Jun 20, 2010
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